ByteDance Will Not Be Able to Sell TikTok without Permission of Chinese Authorities
OREANDA-NEWS. Bloomberg agency reported that the Chinese government had limited the export of artificial intelligence technologies, which is likely to complicate the sale of US operations of the popular video sharing service TikTok.
New restrictions touch upon, in particular, technologies for text and speech recognition, as well as personalized content recommendation systems; the export of these technologies from China now cannot be carried out without a license from the country’s authorities. This step of Beijing will prevent Chinese company ByteDance Ltd., the owner of TikTok, from quickly closing negotiations with potential buyers of its US operations, including Microsoft, Walmart, Oracle and Twitter.
A source of Bloomberg noted that the imposed restrictions directly relate to the technologies used by ByteDance in TikTok, so the company will have to ask the government for permission to sell operations. According to him, the authorities’ goal is to delay the sale of TikTok, but not to completely ban the deal.